Singapore Life Receives $7.3M Investment From Ion Pacific

Digital life insurer  Singlife has received a $7.3m investment from Hong Kong-based asset manager Ion Pacific. Alongside Ion Pacific, the other participants of this latest funding round were existing shareholders Aflac and Standard Life Aberdeen.

The transaction gives Ion Pacific exposure to the Southeast Asian insurance market, which is one of the fastest-growing in the world. “Ion Pacific continues to support exceptional businesses and strong founding teams as a part of its mandate to provide creative financing solutions to the global innovation economy” – Principal at Ion Pacific, Kristaps Ronis.

Established in 2014 and led by Walter de Oude, the company (a team of ~49) went live in 2017. It struggles with web traffic yet has acquired Zurich Life’s portfolio in Singapore.